Buying a mechanics shop

[Jason K.]

Looking at a purchase of a mechanics shop to convert to my contractor office.

What are the risks and costs associated with such a purchase? What are the Environmental costs? Ive heard of a phase 1 and 2 inspection and can imagine they could result in a large cleanup cost. Anyone have exp with this type of thing? Looks like I could get it carried by the current owner (lenders would be apprehensive I imagine) but Im worried about the resale in decades to come and what costs I could accrue if a "spill" is discovered. Im sure there is something in the soil. How could there not be?